[December 28, 2020]
YEHUD, ISRAEL, Dec. 28, 2020 /PRNewswire/ Â
Magal Security Systems, Ltd. (NASDAQ: MAGS), a leading international provider of comprehensive physical, video, and access control security products and solutions, as well as critical site management, announced the award of a $9.0 million project for the renewal of the integrated security system and system upgrades for a major seaport in Africa.
The award, from a long-term customer, is for a three-year project which includes the renewal of IT and communication infrastructure, along with a significant upgrade to the port s security system. The award also provides for the installation of an extensive array of cameras with day and night vision capabilities and automated gates to improve port efficiency, along with a new control room. The control room will feature the latest version of Magal s state of the art command and control software (PSIM), FORTIS, that will integrate all the security devices and systems throug
Magal Security Systems Obtains Israel Tax Authority Pre-Ruling for Cash Distribution tmcnet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tmcnet.com Daily Mail and Mail on Sunday newspapers.
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YEHUD, Israel, Dec. 21, 2020 /PRNewswire/
Magal Security Systems, Ltd. (NASDAQ: MAGS) today issued a clarification with respect to its announced cash distribution of $1.079 per share (approximately $25 million in the aggregate) payable in US$ on December 28, 2020 to shareholders of record on December 17, 2020. According to NASDAQ, the ex-dividend date for NASDAQ trading will be December 29, 2020.
Nasdaq Rule 11140(b)(2) provides that if the value of a cash distribution is 25% or greater than the value of the subject security, the ex- dividend date will be the first business day after the payable date. On December 29, 2020, the ex-dividend date, NASDAQ will reset the opening trading price of Magal s ordinary shares to reflect the payment of the cash distribution. While an investor generally needs to own the shares on the payable date to be entitled to the cash distribution, investors should consult with their financial advisors as to their entitl
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Aeronautics in talks to buy Magal projects division
The putative deal is in the hundreds of millions of shekels. Neither Magal nor its main shareholder FIMI would confirm.
Is FIMI Opportunity Funds about to cash in on security company Magal Security Systems Ltd. (Nasdaq: MAGS; TASE: MAGS)? Sources inform Globes that UAV company Aeronautics, owned by Rafael Advanced Defense Systems Ltd. and Avichai Stolero, is in talks on acquiring Magal s projects division. The potential deal is in the hundreds of millions of shekels.
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A spokesperson for Magal said that the company would not respond to rumors. No response was forthcoming from FIMI. A spokesperson for Aeronautics said that the company constantly examined opportunities for expanding its business, and that it was not wont to provide details of such opportunities. The spokesperson also said that as a privately-held company, Aeronautics had no obligation to report potential deals.